Vinva Investment Management Ltd Acquires 28,045 Shares of The Charles Schwab Corporation $SCHW

Vinva Investment Management Ltd grew its stake in The Charles Schwab Corporation (NYSE:SCHW) by 32.3% during the second quarter, HoldingsChannel reports. The firm owned 114,881 shares of the financial services provider’s stock after buying an additional 28,045 shares during the quarter. Vinva Investment Management Ltd’s holdings in Charles Schwab were worth $10,337,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Brighton Jones LLC increased its holdings in Charles Schwab by 380.5% in the 4th quarter. Brighton Jones LLC now owns 24,240 shares of the financial services provider’s stock worth $1,794,000 after purchasing an additional 19,195 shares in the last quarter. LPL Financial LLC increased its stake in shares of Charles Schwab by 7.1% in the first quarter. LPL Financial LLC now owns 1,348,392 shares of the financial services provider’s stock valued at $105,552,000 after buying an additional 89,882 shares during the period. Mackenzie Financial Corp raised its holdings in Charles Schwab by 24.3% in the 1st quarter. Mackenzie Financial Corp now owns 616,169 shares of the financial services provider’s stock valued at $48,234,000 after buying an additional 120,645 shares during the last quarter. Meeder Advisory Services Inc. boosted its position in Charles Schwab by 9.4% during the 1st quarter. Meeder Advisory Services Inc. now owns 23,237 shares of the financial services provider’s stock worth $1,819,000 after buying an additional 1,998 shares during the period. Finally, Meeder Asset Management Inc. grew its holdings in Charles Schwab by 138.4% during the 1st quarter. Meeder Asset Management Inc. now owns 925 shares of the financial services provider’s stock worth $72,000 after acquiring an additional 537 shares during the last quarter. Institutional investors own 84.38% of the company’s stock.

Insider Transactions at Charles Schwab

In related news, insider Paul V. Woolway sold 3,205 shares of the company’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $93.33, for a total value of $299,122.65. Following the transaction, the insider owned 34,778 shares in the company, valued at approximately $3,245,830.74. This represents a 8.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jonathan S. Beatty sold 3,072 shares of the firm’s stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $98.00, for a total value of $301,056.00. Following the completion of the sale, the insider directly owned 11,923 shares of the company’s stock, valued at $1,168,454. This represents a 20.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 9,482 shares of company stock valued at $905,295 in the last 90 days. 6.30% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have commented on SCHW shares. TD Cowen upped their price target on Charles Schwab from $129.00 to $134.00 and gave the company a “buy” rating in a research report on Friday, October 17th. Piper Sandler restated a “neutral” rating on shares of Charles Schwab in a research report on Tuesday, October 14th. Truist Financial boosted their price target on Charles Schwab from $112.00 to $113.00 and gave the company a “buy” rating in a research note on Friday, October 17th. The Goldman Sachs Group reissued a “buy” rating and set a $114.00 target price on shares of Charles Schwab in a research note on Friday, October 17th. Finally, Cowen reaffirmed a “buy” rating on shares of Charles Schwab in a research note on Friday, October 17th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Charles Schwab has an average rating of “Moderate Buy” and an average price target of $106.45.

Charles Schwab Stock Performance

Shares of SCHW stock opened at $91.86 on Thursday. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.55 and a quick ratio of 0.55. The firm has a 50-day moving average of $93.84 and a 200-day moving average of $92.89. The Charles Schwab Corporation has a one year low of $65.88 and a one year high of $99.59. The company has a market cap of $163.23 billion, a P/E ratio of 21.51, a P/E/G ratio of 0.85 and a beta of 1.02.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.06. Charles Schwab had a net margin of 35.93% and a return on equity of 21.26%. The business had revenue of $6.38 billion during the quarter, compared to the consensus estimate of $5.93 billion. During the same period in the prior year, the firm posted $0.71 EPS. The firm’s quarterly revenue was up 26.6% compared to the same quarter last year. Equities research analysts forecast that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

Charles Schwab Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Friday, November 14th will be given a dividend of $0.27 per share. The ex-dividend date is Friday, November 14th. This represents a $1.08 annualized dividend and a yield of 1.2%. Charles Schwab’s dividend payout ratio is presently 25.29%.

Charles Schwab Company Profile

The Charles Schwab Corporation, together with its subsidiaries, operates as a savings and loan holding company that provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services in the United States and internationally. The company operates in two segments, Investor Services and Advisor Services.